Engineers Gate Manager LP Cuts Holdings in Titan Machinery Inc. (NASDAQ:TITN)

Engineers Gate Manager LP reduced its position in Titan Machinery Inc. (NASDAQ:TITN – Get Rating) by 42.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 12,600 shares of the company’s stock after selling 9,231 shares during the period. Engineers Gate Manager LP’s holdings in Titan Machinery were worth $356,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. First Trust Advisors LP raised its position in shares of Titan Machinery by 76.3% in the 3rd quarter. First Trust Advisors LP now owns 52,830 shares of the company’s stock worth $1,493,000 after buying an additional 22,856 shares during the period. Brandywine Global Investment Management LLC grew its stake in shares of Titan Machinery by 19.4% in the third quarter. Brandywine Global Investment Management LLC now owns 39,408 shares of the company’s stock valued at $1,114,000 after buying an additional 6,397 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of Titan Machinery during the 3rd quarter valued at about $190,000. Royal Bank of Canada lifted its position in Titan Machinery by 10.9% during the 3rd quarter. Royal Bank of Canada now owns 11,511 shares of the company’s stock worth $326,000 after acquiring an additional 1,132 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in Titan Machinery by 28.1% in the 3rd quarter. Lazard Asset Management LLC now owns 82,841 shares of the company’s stock worth $2,341,000 after acquiring an additional 18,147 shares during the period. 81.30% of the stock is owned by hedge funds and other institutional investors.

Titan Machinery Stock Performance

TITN stock opened at $40.39 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.37 and a current ratio of 1.74. The stock has a market capitalization of $917.26 million, a price-to-earnings ratio of 8.61 and a beta of 1.66. Titan Machinery Inc. has a 1 year low of $21.50 and a 1 year high of $47.87. The stock’s fifty day moving average is $43.53 and its two-hundred day moving average is $37.24.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TITN shares. Stephens boosted their target price on shares of Titan Machinery to $53.00 in a research report on Friday, December 2nd. B. Riley initiated coverage on shares of Titan Machinery in a research note on Tuesday, December 13th. They issued a “buy” rating and a $48.00 price target for the company. Finally, StockNews.com raised shares of Titan Machinery from a “hold” rating to a “buy” rating in a report on Saturday, March 4th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

Titan Machinery Profile

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Titan Machinery, Inc engages in the management of agricultural and construction equipment stores. It operates through the following segments: Agriculture, Construction and International. The Agriculture segment sells services and rents machinery and related parts and attachments, for uses from large-scale farming to home and garden use in North America.